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. no more bail outs and it will not add a dime to the deficit. 5.5 billion, and money to go to the insurance companies to make up for the fact that not enough young healthy people are applying for obama carry. only 25 percent of those are young and healthy. and marco rubio read the obama care bill and full health care law and found this provision, butied dope inside of obama care section 1342, is authorization for what is known for risk corridors. this means when companies lose money dow to not enough people signing up for obama care as has been the case so far, taxpayers get stuck for the bill. the administration is calling it a temporary poll of money. now, maybe if you believe that obama care wasn't going to cost a dime you buy that explanation. most of the time when the government sends money in companies tdoesn't get the money back. >> i was looking at a summery of the budget proposal yesterday, he conveniently leaves out a chunk of spending. 60 billion in tax credit to finance the private coverage of obama care. i mean, that adds to the the deficit, does it not. >> 60 billion by the wa
the annual deficit in half to reduce the overall debt of united states by $3 trillion over the next 10 years. neil: i heard that it stuck with me i immediately said he just out to an allied made i the debt is coming down it will shrink $3 trillion over the next 10 years? it is what. what will happen is it will grow $3 trillion less than rethought. that is a big didifference. said debwill grow at 21. 3 trillion that is not the but the cbo. it is not the $3 trillion decrease but $8 trillion increase may be sheikh factors in those savings but so far that does not mean fear is less red ink. but with washington less than we feared so no need to fear. not so fast. it is a twisted way that the senator says we're making progress. because if you define progress then you must be forgetting you are digging a hole consists of a. it is time for the wake-up call the debt is gettingg bier. that is like me sayi i m projected to gain 50 pounds over the next decade but i am only gaining four days so i lost 10 pounds. but i did not gain 40 pounds? it could have been 50 but fat chance we would die this. what do
could save. liberty mutual insurance. responsibility. what's your policy? >>> the federal deficit plunged by more than $400 in the last fiscal deficit. the sharpest drop since the end of world war ii. alison kosik is in new york to tell us why this happened. >> the federal budget deficit is at its lowest level in five years. the deficit is the difference between what the government spends and takes in. that dropped to $680 billion in 2013. to give you some perspective, during the financial crisis, it shot up above $1 trill in 2009 as the economy tanked and government bailouts became the norm. here is why it is happening. the economy is getting better over the last few years. the deficit has been shrinking. also, we are paying higher taxes. all that means more revenue for the government. the government has cut back on spending. the republicans, they still insist that the budget deficit is still too large. if they are looking for a fight, they may not get it. congress agreed to a bipartisan budget deal. mid-term elections are coming in the fall. a strengthening economy is removing m
don't see it happening. and i see a lot of this idea about how we're going to get deficits under control and in plans in time courtesy of tax hikes, but not a lot of spending cuts. >> well, a couple things. first of all, if you look at this budget, it shows the that the deficits are steadily decreasing, year by year. as you know, we've cut them in half over the last four years. and this budget puts the them on a continuing downward trajectory, number one. >> but they are still relying on tax hikes. $1 trillion worth over the next year. and i'm wondering, where are the savings? because the president and republicans, too, there were no fair players on this, they reversed what were going to be minor cost of living juchlgts in the last deal. they scrapped that altogether. writes the will for getting this under control? >> two things. i think if you look in the medicare area, the president's budget identifies some additional efficiencieefficienc that are saved, that are cut, not by harming beneficiaries, but by reducing and continue to reduce some of the overpayments to the private in
of people felt was ungovernable, chiefly because of the budget deficit and now there's a surplus. is there a national leadership lesson that california provide? >> you've got to be tough on spending. at the end of the day, fiscal discipline is the fundamental predicate of a free society. and you just have to maintain that. secondly, you do have to find a way to create a governing consensus or coalition. in california, we do have a majority democratic party. and we don't have the any constitutional blocking points like the 60-vote requirement in the senate or the division of parties in the house between the house and the senate. >> it is interesting, is there a lesson for president obama no matter how liberal you are, you said, here the president's about to present a budget where he's saying look, the deficits are coming down for now. we've got to spend more. we're only going to get the economy going in a meaningful way if we spend more on infrastructure and the loo i can. >> yeah, spend more but in the framework of adjusting your long-term liabilities so we're in balance. so that
broken, it's costing taxpayer money, covered california will be going into deficit -- >> the irony there -- you know your state betterment you have a democratic governor, democrats in control of both houses in the legislature. i see this in maryland where the democrats run the show, enif you want to lay it on the republicans and whether they go along, it's fraction of the problems they're encountering now. so you have to worry more, those who are pushing the healthcare law, be they on left or the right. you have to look under your own hood because it's your own party's governors jostling the problem. >> they don't want to look under their own hood. they want to blame the republicans. blame everybody but themselves -- >> or just rush the signups like we saw in maryland and ask questions later, just get them in, get them in, get them. in, ask questions later. >> they're in panic mode. they see the failure and they want to shift the blame, but what has to happen, the governors and the state legislatures that are supporting obamacare, the senators and congressmen that are supporting ob
. at a time when our deficits are falling at the fastest rate in 60 years we have to decide if we're going to keep squeezing the middle class or reduce deficits responsibly while taking steps to grow the middle class. >> that was president obama outlining his $4 trillion budget for 2015 setting the stage for another budget fight. it calls for growing are the tax expansion. the president says he's paying for all of this by closing loopholes, one of which is wall street's favorite loophole which allows hedge fund managers to count their investments as income instead of capital gains. many think it faces a long road because of republicans in the house. to walk us through the budget battle, jimmy williams, an opinion writer for u.s. news.com and an msnbc contributor. how are you? >> how are you, hello. >> i want to start with one of the more important things which is that child care tax credit. this is big for people. when you look at the numbers from the white house, you're talking about well over 1.5 million people effected, $600 for a lot of folks with children under five years old. my view
not a wit of care to the working and unemployed. they talk about obsessions with deficits and debt. and then they refuse to raise revenue in any form or fashion. >> advertisement reform with the chained cpi last year. they don't back him when he is trying to do what they say they want to do. >> they predicate their position on ignorance. and nobody actually calling them out. i mean, the sound that you played at the beginning of this segment, that's the -- that's all you need to know about the republican party. on the one hand, on the other hand. and in the meantime, if you ever ask them for a meaningful piece of policy, of governable policy, they have nothing. >> you know the guy's running around a big arena, trying to get to the farthest right. well, they always want to be the hardest rail to the right. take a look at lindsey graham here, who seems oftentimes a reasonable guy, but he is so scared of looking reasonable because it will get him killed in south carolina. on twitter he wrote today, isn't it original? it started with benghazi. when you kill americans and nobody pays a p
a real deficit. he let putin bring him down the garden path on syria, a country that was supposed to have given up all its kemic am weapons by february but has only given up 11% of them. what accountability have we heard demanded by the president. whether it's ukraine, china, syria, where wherever we see him, he just doesn't have what it takes to be taken seriously by foreign leaders. >> is he credible? what do you think? >> i think he's more than credible. for example, if you go back and look at 208 when russia went into georgia, we did nothing. that was at the height of our involvement in iraq and afghanistan. he's got the international community to put sanctions. these aren't going to be the treasury. these have to be international sanctions. nobody, even the harshest critic, wants to put boots on the ground. >> let me give you an example of why i think the credibility thing is a little bit tricky. look at what the president said at one point today. it's remarkable. >> one thing right away is to work with the administration to help buy assistance to the ukrainians to the people and tha
of obamacare over ten years, and showed that it would reduce the federal deficit,. >> and you trust the congressional budget office to estimate the budget of congress? >> and he's not the only one who drank the cool aid n states that have rejected it the majority of citizens foolishly want the expansion. ashley landis explains. >> i understand that we are not delivering the most popular message here. but certainly low income families who are really struggling are going to be hard-pressed to understand all of the nuances. >> they're just so busy being needy they don't knows what's going on. >> i decided to talk to these misguided medicaid want a have's who are hopelessly hoping for help. >> i have environmentally induced asthma and don't have a way to get test. >> my wife has disk disorder. >> i know you feel like you want medicaid but medicaid expansion hasn't been approved in your state. and it's a good thing. it's better for america. >> that seems like the most ridiculous thing to say. how is it better for america, for people who have treatable conditions to become permanently cri
that jerry brown has proven he took a deficit now it is a surplus, rating agents have given us better marks. i think he is making progress in terms of environment and other issues. i question whether we need to devide the state to pieces, butven if we did. the u.s. senate would have to approve the admission of 10 new senators. in to their body, diluting their power. why does senator from nevada or alabama or ohio want to give california 10 more senators? neil: his logic does make sense, at leastase level, that is that it is a very big state. unwieldy state, in so far as interests and you kw even physical connects are very desperate throughout the state, i d't kw if that means you have to have 6 different states, but it makes it disfunctional. what do you make of that argument and why the 6 pieces? >> i don'tnow why the 6 pieces. we have north and south carolina, and nth and south dakota, two states is possible, that was tried 1 in late 1850s, but. there is no way on earth that the u.s. congress is going to dilute its power and give more por to california. as you know they hate anything big,
're right, there are issues out there. i think it's more about deficit spending where they'll try to earn -- try to get janet yellen to see how far she'll go politically. greenspan a little bit more of a political animal. ben bernanke saying we'll not weigh in on that stuff and we don't know where janet yellen comes down, and saying do you know what, you need to bring down the deficits, how you do it is your problem. >> it raises questions about unemployment. that's the sticking point. that's what investors and traders want to hear from her, the whole issue of forward guidance. if you were still there, what would you recommend? how would you switch policy to get away from the 6 1/2 percent unemployment threshold? >> they've been burned. no other way to put it they've been burned on the 6.5% marker, whatever you want to call it, threshold and they'll back away from that. i would think that janet yellen would want to make maximum use of what will be a honeymoon period. i don't think that anybody is going to be going really after her hard. it's too early to do that. and there's nothing reall
that is buried and driving me crazy which is the decline in the deficit. nobody wants to hear anything about it, because it went from the trillions and you know the president could say we have cut spending here, and maybe because of the gridlock, but there is not a lot of supply of bonds. how about saying that. >> well, there is a decline in the deficit, but i don't know how much of that s is due to th proceeds of fannie mae and freddie mac. >> and the fdic had a good trade in there. good trading by them. >> and we have not talked about it often enough, but we have talked about the lawsuit initiate initiated by perry and berkowitz and ackman owning the common which is up sharply, but they are way past paying them back. and the president -- >> and the president has said that the common -- >> and the third amendment is all in place meaning that all of the profits are e sweeping to the government helping the e deficit. >> it is a windfall due to the rising pricing in housing, but the president said that the common should go to the treasury and he made that statement, and the fdic knew that the pre
term on trying to boost job growth. over the ten-year window you will see steadily declining deficits. at the end the period i think you'll see a declining debt-to-gdp ratio. that's the right trajectory. >> yesterday we had warren buffett on the program. he said he thinks the proposal would be to boost the earned income tax credit even more, expand that in a bigger way. that's a way to boost wages for people that are working without looking at job losses by raising the minimum wage. how about offering it to a wider variety of people and taking the minimum wage proposal off the table? >> these things are not mutually exclusive. there's no reason you can't work at both ends here. >> is it something you would offer if you did a broad -- not what you're talking about right now, but boosting the income tax credit in a big way, offering it across the aisle as a way of finding compromise, in instead of looking at one from another. i think that would be something republicans would take on heartily. >> we're willing to consider any ideas republicans put on the table. the president is putting t
spending. we've gone from deficits to surpluses. we're growing jobs, growing our economy. we're providing once again sources of energy from whatever source it might be, depending upon which state you're in. we're proving these things do work. but we also told him the time it takes to get permits, we would like to have offshore drilling. we would like to have more cooperation from the epa and different federal regulatory entities that take so long to get through. those things are holding jobs back. of course, he has a different philosophy, that the more government spends, the more it will help the economy, which we believe differently. we believe you let people keep more of their hard earned money they're going to spend it back in the economy and create jobs and businesses. >> congress at budget office, nonpartisan, has come out with a study in the last week or so that says basically obamacare is going to cost up to 2.5 million jobs, lost jobs from obamacare, and about 1 million lost jobs in the minimum wage. question, if you know -- if you knew as governor, if your budget bureau told you
loophole and we'll raise taxes on very rich people because we do have a significant deficit and we're printing money and it's time to act responsibly. >> michael far, we appreciate that. still to come, we're watching arizona where the governor is expected to make a major announcement at this hour about the religious freedom bill that we've been talking about. we'll be there live. >>> paula deen with a significant new investment. an announcement to make. is it a sign that america has forgiven her from using the "n" word. >>> what prompted spike lee to go on this profanity ridden rant? >> get the [ bleep ] out of here. no, i can't do that. get the [ bleep ] out of here. i can't do that. nvestment isn't the only return i'm looking forward to... for some, every dollar is earned with sweat, sacrifice, courage. which is why usaa is honored to help our members with everything from investing for retirement to saving for college. our commitment to current and former military members and their families is without equal. ...and let in the dog that woke the man who drove to the control room [
loss since the bailout in 2008. 15 billion-dollar deficit for last year. he calls rbs the industry's least trusted leader, does the ceo. >> the bank. the largest bailout in europe. still owns the vast majority of the bank and is still pulling the strings. >> by the way, wire pros playing in the olympics? >> that is what the nhl is asking -- the players love it. >> the players love it and flagwavers love it, i am not fair -- sure it is fair to college athletes. >> we need to go to the ukraine. we spoke with the new leadership to read good morning. >> good morning. his name is arseniy yatsenyuk, the prime minister designate. inis about it -- to be voted as the interim prime minister of the country for the next few months. parliament is still chewing over this decision. >> how front and center is crimea to the management in kiev? >> very front and center. i was standing in the parliament here in kiev. meanwhile, in the crimea, the parliament had just been seized by a group of about 100 gunmen. i asked the prime minister about that and he said it is the first crisis he has to deal with
on personal character traits, which is you have a deficit of hope and a surplus of hurdles. so they try to deal with the hope part of it. they say let's build you up, build this character up because you have all the hurdles to deal with. i say let's do both things as once. you have to deal with the structural problems, all the things we say that are not really getting covered but they are. because if somebody is predatory lending for mortgages and that's disproportionally black people, that is structural racism. that is a structural violence against the black family, against the black community, against black men. every one of those things, whether it be mass incarceration or disproportionate drug arrests or any of that, violence in schools or suspensions of black boys higher ratio. so we have to look at those and call those out for what they are and say, we have to deal with all of those both what the boys need to do differently but what we need to do differently as a society. >> i also want to bring in boyce watkins founder of your black world.com. boyce some people already on board w
. >> the other thing is how weak the ukrainian government is, they have been running deficits, they have almost no money in their treasury. so what do you need to be strong? you need a good economy, right? >> we solved it all. >> next, mitt romney and sarah palin warned years ago about what is happening in russia today. they were mocked by president obama and others on the whole left. we have the tape. >>> and later, stars, selfies, and slices at the academy awards last night. stay tuned for our thoughts on the big show on this big show. your eyes pend on a unique set ofutrients. [ male announcer ] that's why there's ocuvite. ocuvithelps replenish y eye nutrients. ocuvite has a unique formula that's just not found in any leading multivitamin. help protect your eye health with ocuvite. was a truly amazing day.ey,t your eye health without angie's list, i don't know if we could have found all the services we needed for our riley. for over 18 years we've helped people take care of the things that matter most. join today at angieslist.com when jake and i first set out on we ate anything. but in time
has about a $20 billion deficit in energy. most of that comes from russia. one of the main aims -- >> does ukraine have its own domestic sources of energy? >> not much. >> it could. it?x'eeds to be developed. >> i just read a story where that gas company is going to be pulling back, part of their effort to diversify. they tried to do that. one of the aims of western reform will be to get rid of the domestic fuel subsidies, bring it up to a more western level. what does that mean? it means helping pay the bills of average ukrainians. that bill is from russia. if it's rubles or -- no matter how many consonants are in the currency it's still fungible. >> they are in arears by more than $1.5 billion. that first payment goes directly to gas. >> let's talk about another couple stories on your beats. first with you and china, and you maintain that possibly, possibly china is facing a bear stearns kind of moment. >> the first corporate bond defaults in chinese modern history. remember, they didn't issue corporate bonds for a long time because they were communist. there were no corporate
a surplus when he finished his presidency that was turned into a record deficit by the republican president that succeeded him, so we are looking forward to having surrogates like president clinton and others stump for our candidates all across the country, and this week at the dnc meeting, we're going to be making sure that we can continue to focus on continuing our progress and helping to add value to elect democrats up and down the ballot. >> yeah. it is an interesting balance, as i mention, president clinton doing the stumping, hillary clinton doing a foreign policy event, she is down in florida today. these are not midterm stumping events. they've found a division of labor within the family for now. dnc chair debbie wasserman shultz, thanks for your time today. >> thanks, ari. >>> coming up, two years ago tonight, a story we all remember, trayvon martin was shot and killed. a tragedy that sparked a national conversation. we're going to talk about that case and the implications that continue to shape a lot of policy discussions. >>> but first, before we get to that, we have here today a
progress made. if we just take a year in review. so, a year in review, in terms of deficit reductions. when the budget came out last year, it was predicted $1.1 trillion. it was 680 in the end. about a $400 billion deficit reduction from 2012 to 2013. then, we have a situation where i think hopefully we've broken the fever on the issues of having conversations about default. >> money that's overseas. are there efforts to bring money overseas permanently back to the states? >> it depends on how one is talking about that. we want to create a system that is clear and that is helpful for our companies to know what they're doing, how they're doing. and not discourage investments from coming back and finances from coming back to the u.s. >> tell me about going from bettenville, arkansas, in the private sector, back to the government. >> walmart is an institution of execution. that is what it is certainly known for. and fortunate to spend time and to be there. coming back to the federal government, certainly, as you reflected, one has to work and work on both sides of the aisle. i go up and down t
in new tax. he cuts the military greatly in my opinion not for deficit reduction but for more domestic spending. it just shows the priorities have moved farther to the left and the point i'm trying to make here we have three years left of this administration and we have divided government. normally in a situation like that you would try to fine common ground, work forward common ground. he's moving away from that and tacked hard to the left. yes you could say that's because we're in an election year and that may be why. it's happening nevertheless. i don't know the reasons but he's moving to the left and it makes it hard to bridge to the gap. >> democrats will say they have tried to extend a hand and have not been reciprocated. >> we have a budget agreement. i want to see us build on that success. >> give me a preview of what the paul ryan budget will look like. in years past a lot of the saving have come from overhauling medicare and medicaid. are those proposals include in the paul ryan 2015 budget. >> those programs are going bankrupt and need to be restored, need to be solvent beli
of the deficit. if there are things we can do in the administration, the old politics over policy, i think certainly in energy, certainly in several other key areas if we had a better view on policy versus politics, i think we'd see some more robustness. you look at the jobs that are created out of energy and the fracking business, you know, the average employee in theç marcellus, $95,000 a year. 1.3 million jobs, $63 billion in additional tacks. energy independence is at the heart of getting this gdp up and running. >> growth cures all evil. it's great to see you. >> thank you for the opportunity. >> really appreciate it. >>> we have some breaking news now. bertha coombs, what can you tell us? >> the white house says it's going to allow -- to extend the current customers in the transitional plan yaal plans fo two years. 1.5 million individuals and small businesses. they will be renewable through 2016. also boosting 2015 deductibles and out of pocket costs by 4% and they're extending the open enrollment period for an extra month next year to february 15th. now, the white house deflected
remained overvalued despite an account deficit. >> reporter: the debt of the country has been falling, though, as a result, yields have been rising. they're not worried you're not going to be able to reservice it. are you worried about a restructuring? >> we are not worried, but ukraine needs external help for the next year or two. i think with sensible economic policies and with international support from the imf, u.s. and the eu, we can return to the market back within six months, maximum. >> reporter: if you listen to a discussion about ukraine and the united states, it's all about this is the eu or russia, a forced choice, some kind of big monumental decision for ukraine. do you see it so divided, choosing between eu and russia? >> ukrainians would not want to make it look like this. it wants help from all of its neighbors including russia and on the other side, but the majority of the population definitely supports european standards of business, democracy, free market economy. >> reporter: thanks so much for joining us, mr. fiala. we really appreciate it. tomas fiala, ceo of dra
the nucleus to correct from deficits for tell burterrible illnesses to pt blindness in the third person providing that healthy dna. all the characteristics of what may be a person of than an illness are conveyed by the biological parents. i don't have a problem with that. if all you are donating is the healthy environment in which the traits that belong to two biological parents are to grow, that seems okay to me. stuart: it will be taking a bit further, won't it? you are getting designer babies. >> now allow anonymous and oregon donation. it deprives the offspring of knowing their biological parents. will not even consider this. donate or over him. so is a kid doesn't know who the dad or mom is. what o you need to know that for? it is the key to who you are spiritually, medically. stuart: i am with you all the way. i'm not sure i see a way of banning it and stopping it when it gets to that kind of situation. how do you stop that? i'm going to touch on one of your favorite subjects. social media apps. you are not a fan of social media, but in this case social media is organizing tyrus.
mentioned his work on repairing the state's budget and job creation. brown turned 25 billion dollar deficit in 2011 into a surplus this year. his approval rating is at an all-time high at 58%. the state's open primary is in june. >>> on the cover of "people" magazine, paula deen is opening up about her scandal last summer. in the interview she says i feel like embattled and disgraced will always follow my name. it's like that black football player who recently came out. he said i just want to be known as a football player. i don't want to be known as a gay football player. i know exactly what he's saying. deen is referring to nfl prospect michael sam. i just don't think this works! i think maybe she ought to try something else, joe. what do you think? i'm wondering if perhaps she might want to just stay away from talking. >> i think she really should. it's like that. >> talking thing is not working for her. >> it doesn't work. >> it's like that black football player? >> black football player as opposed to one of the white football player. it's like that black football player. >> she started
off its deficits. charles: everybody saying marijuana is this thing like smoking cigarettes with no negative impact to it. there is a negative impact. >> we wish somebody in d.c. just as blunt about health care incentivizing to play the ppano while somebody subsidizes them to leave their job. charles: you can't make this stuff up, exporting goods is suing the ceo of what else for allegedly pretending to be a senior executive, he told the store manager he had a meeting with the ceo and persuaded the employees to show him around in the private back areas and answer questions about the operations. is that balls he or what? >> is this true? a secret agent man pretending he is an employee? charles: a senior executive. >> i think it is a right if it is true, it is a little bit over the top. charles: it is embarrassing to say this guy walked in and anyone could have done that. >> they should give him a coupon, think it is funny. charles: ukraine is spooking the market. your take is next. ♪ see what's new at projectluna.com >> the russians need american technology to develop their
's advocate here. the country has a massive deficit. we need the money. so why should the country continue to subsidize the most profitable industry, rather. this this is according to sage works. oil and gas, the energy industry, most profitable. >> well, alex, and i would ask, you know, why should they subsidize the oil industry. and the fact is, they don't. percentage depletion is not a subsidy. it's not a loophole. and that's the thing that's perplexing to me. why, if it's not broken, don't fix it. i would challenge those who would say that to take a look at percentage depletion. it's not a subsidy. it's not a loophole. so i would agree with them on that point. >> okay. back to the politics of all this. this is the latest in a string of policies that have fractured the gop. who is in charge of the party? >> well, i think any time a majority party is outside of the white house, and you could have said the same thing during the bush years with the democrats. you know, there's just a lot of discussion, a lot of chatter out there. if you're in the minority. but the fact is, i think even rep
that had obviously unsustainable balance of payment situations and that had current account deficits and that needed to have some kind of sell-off to rebalance and other countries where the fundamentals were fine. frankly, it seems like those fears weren't born out. i'm wondering what you think of the dynamic now give whatn what happening and in particular whether or not you think that this is going to have contagion effects elsewhere. >> this is an important question. the emerging markets are in the middle of a major capital outflow. i think some of the data shows that there's been money leaving emerging markets for over 15 weeks already now. >> 18. >> 18 weeks. and i think that we shouldn't expect this to change the matters very much. i think rebecca's question was spot on. how much has the russian action over the weekend really changed the macroeconomic situation and i think very little. i think that applies to the emerging markets as an asset class as well. >> but let me say something. it hasn't changed the macrosituation but it has changed the approach to risk. look what's going
to have it happen during -- when things were terrible five years ago. but we can have a deficit which creates more debt but not at a rate that this grows faster than gdp grows. if gdp is going to grow at 2% in real terms, but the fed has a policy that they're shooting for 2% inflation on top of that, that would mean 4% in terms of nominal gdp and you literally could have debt grow at 4% and it would maintain the same relationship to no, ma'amal gdp as it does now. the trend is wrong. there is a danger of that goes wrong. i don't like seeing it go up as a percentage of gdp. this country is in wonderful shape. >> if you say government pensions aren't the problem because the government has the power to tax, what do you say to somebody who has a private pension? should they be worried about it? should they think they are still going to get it when they retire. >> it's protected by the pension benefit guarantee corps. that has come into play in many pension plans. the state municipal pension plans, the one right here in omaha, is in terrible shape. and almost out of resources. it's a healt
that the deficit is going down. who wouldn't hope for that? we hope for it. it's working. but any time you look at what they're doing, it's all short term. the stuff that's going to eat our lunch is 10,000 people a day turning 65. you've got a system that was set up of social security that you won't even address the insolvency of it for 75 years. health care is on automatic pilot. forget what you call it. it's time to deal with the long-term stuff before interest goes from where it is now to back to historical heights and then watch people grab their socks and run for blocks. >> is there anything you think can be done considering that it probably won't be implemented until after the november 2014 midterms? >> anything that will be done will be done down the road. that's what's wrong with the health care plan. whatever it is is all the correction process is down the road, way ahead. and it's like a dock fix. you're going to do another dock fix and they will run in. you're going to do anything. whatever you do, whether it's tort reform or real estate or whatever is done, the groups will organize
talk about deficits and debt. we could talk about data. but in the end, treasuries really when it gets nasty, when that tina the only -- that there is no alternative to stocks, that changes rather abruptly when stocks go down. and then tina becomes there is no alternative to being long treasuries. we want to keep cognizant of that. to the end the japanese are doing everything in their power to keep the yen weak, let's look at how all that stimulus and various ways they're trying to goose their economy have panned out. one way they've made good strides on. currently the latest reads is 3.7. now, that is the basic lowest rates since july of '07. during that interim period between '07 and now the high was 5.5. the message to this is is that the japanese may have issues for the last 25 years. but huge high unemployment certainly does not seem to be one of them but they made some inroads. base wage, recent data. this is important. base wages were only up 1/10 year over year. one of the things they're trying to do is goose inflation. if you adjust the wages for inflatio
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